Chinese electric car company Nio (NYSE:NIO) saw its deliveries fall in May as the global chip shortage hurt its business.
Nio delivered 6,711 vehicles in May, a 95.3% year-over-year increase. However, that was a 5% decrease from April. Global automotive players have been dealing with a semiconductor shortage that has impacted their business.
As of May 31, cumulative deliveries of Nio’s three models — the ES8, ES6 and EC6 — reached 109,514 units.
At the same time, Chinese rival Xpeng Motors (NYSE:XPEV) saw vehicle deliveries accelerate in May as it managed to weather the same semiconductor shortage.
Xpeng said it delivered 5,686 cars in May — a 483% year-over-year rise and a 10% increase from April. The company said last month that it expects second quarter deliveries to be between 15,500 and 16,000 units.
Xpeng said that it delivered a record high 3,797 units of its P7 sports sedan in May. In January, the company began rolling out the next generation of its so-called “advanced driver-assistance system” (ADAS) called XPilot 3.0 to P7 cars.
Shares of Xpeng were up 5.5% in pre-market trading Tuesday (June 1) while Nio’s share price was up 2.8%.
